The "grade/tonnage potential" estimates in the table above for Bluff were excerpted from a report entitled BHP-Utah International, 1991, 1990 Bluff Gold Exploration Summary Report Part 1, Overview of Exploration Results 1986-1990 - Bluff Project Area Seward Peninsula, Alaska, BHP-Utah International Company Report, 5 p. The study utilized drill hole cross sections and best estimates for true width of mineralized zones. Defined mineralized intervals were projected between sections along geologic trends. The procedures used are also noted in Stevens, D. L., 2009, Bluff Gold Prospect, Seward Peninsula, Western Alaska, National Instrument 43-101 Technical Report, 21 p.
The grade/tonnage historical estimate for Bluff is not compliant with CIM definition standards for Mineral Resources and Mineral Reserves, as defined under NI 43-101. The historical estimates were prepared prior to the implementation of NI 43-101 and use terminology not compliant with current reporting standards. The term "grade/tonnage potential" implies an inferred resource but is not correlative with CIM definitions and should not be taken as such. Some detailed information, such as the number of drill holes used in the estimation, is unavailable. In addition, little is known about the reliability of the BHP-Utah International drill program which did not appear to employ a QA/QC sample program. Though believed to be relevant, for the reasons cited, the Company does not consider the Bluff historical estimate to be reliable. Limited drilling by the Company in 2008 and 2010 confirmed the presence of gold mineralization at Bluff, however, the Company did not calculate a new resource estimate. The historical estimate made by BHP-UTAH International in 1991 remains as the most recent estimate known to the Company. A qualified person, Dr. Donald L. Stevens, an independent consultant to the company, has determined that it is not possible to classify the historical estimates as current mineral resources or mineral reserves (Stevens, D.L., 2009, Bluff Gold Prospect, Seward Peninsula, Alaska: National Instrument 43-101 Technical Report, June 5, 2009, 21 p. filed on SEDAR (www. Sedar.com) on October 1, 2009). Therefore the Company is not treating the historical estimate as current mineral resources or mineral reserves.
Non-Compliant Disclosure of Mineral Resources - Other Deposits: In certain materials the Company also discloses non-compliant resources for the Pebble, Whistler, Donlin Creek, Pogo and Fort Knox deposits, Alaska and the Safford and Resolution deposits, Arizona. The Company wishes to clarify that it does not have any ownership interest in these deposits and it does not imply that it will be successful in discovering mineral deposits of similar tonnage and grade. Additionally, in previous versions of its website and other materials, the Company did not disclose each category of mineral resources or mineral reserves for the Pebble project separately (contrary to section 2.2(b) of NI 43-101), added inferred mineral resources to other categories (contrary to section 2.2(c) of NI 43-101), and disclosed resources solely in the form of metal content (contrary to section 2.2(d) of NI 43-101). The Company retracts the statements it has made that are contrary to NI 43-101.
Gregory A. Beischer, a director of the Company and its president and chief executive officer, is the qualified person (as defined in NI 43-101) who approved the technical information in this news release.
ON BEHALF OF THE BOARD
Gregory Beischer, President & CEO
"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."
Millrock Resources Inc.
Gregory A. Beischer
(604) 688-9620 (FAX)
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